Lithium hopeful Altura Mining has locked in an agreement with United States and Swiss-based investment groups to raise $US110 million ($137.9 million) to fund development of the Pilgangoora project in Western Australia.

Iron ore prices exploded overnight, increasing by more than 5 per cent. In the largest one-day gain for the commodity in more than four months, iron ore finished trading at $US59.70 a tonne – or 5.2 per cent higher.

Mining services company Brierty has confirmed that its Western Turner Syncline Stage 2 (WTS2) iron ore contract with Rio Tinto in the Pilbara region has been suspended and it has received a notice of default.

Australian Maritime Systems Group (AMSG) has been awarded a contract by Chevron to design and install a new vessel tracking service (VTS) system to manage shipping to and from the Gorgon LNG project on Barrow Island, 60km off the north-west coast of Western Australia.

Civmec last week secured an engineering, procurement and construction (EPC) contract with Alcoa, as well as other new construction and maintenance contracts for resources clients, worth a combined $90 million.

Queensland University of Technology (QUT) robotics researchers say they have developed new technology to equip underground mining vehicles to navigate autonomously through dust, camera blur and bad lighting.